Monero trading markets go live in South Africa

UPDATE: We now have a dedicated page for Monero Trading in South Africa

Monero Trading Anyone?

Monero trading markets are now live on the ICE³X cryptocurrency exchange platform. ICE³X is the first and only cryptocurrency exchange in Africa to list the Monero coin, offering XMR/ZAR & XMR/BTC markets from the get-go.

A Monero trading platform for South Africans

iceCUBED-X offer seven other cryptocurrencies and 14 markets in total and we believe that Monero is a good addition to the exchange. Most new coins have no real USP, yet Monero is different. First of all, it has a unique architecture based on the CryptoNode protocol. In addition, there is a buzzing community and as a result support for XMR is growing fast. Lastly and most importantly, Monero has a well-resourced development model. In South Africa, there is a dedicated cryptocurrency trading community. Cryptocurrency traders say that they can not economically trade cryptocurrencies outside of South Africa at scale.

We think Monero is currently the most suitable coin to add to the exchange, because it is fundamentally different from bitcoin, has a real-world use case and somehow managed to stay more true to the “original idea” around which Bitcoin was created. The balance between our users’ needs and a safe and secure trading environment is continuously improving and the addition of XMR has been on our roadmap for a while now. We are keen to see the market response and hope to help cement XMR’s position in the crypto space – Gareth Grobler, CEO of iCE³X.

Monero trading markets and developing the protocol?

Traders already registered with the iceCUBED exchange can deposit and withdraw Monero to and from their ICE³X accounts. The team say the XMR/BTC market will open for trading on Friday 27 April 2018. The XMR/ZAR market will go live on the 1st May 2018. XMR miners can get in touch with the service desk to get a FREE 7 day trading fee discount plan.

Zero percent trading fees apply to the XMR/BTC market until the 31st of May 2018.

Monero is a leading cryptocurrency with a focus on private and censorship-resistant transactions.

Most existing cryptocurrencies, including Bitcoin and Ethereum, have transparent blockchains, and this means that transactions are openly verifiable and traceable by anyone in the world. Addresses for these transactions may potentially be linkable to a person’s real-world identity, this is precisely where Monero uses cryptography to shield sending and receiving addresses including the transacted amounts. The Monero ethos is to be ASIC resistant. Many agree this is a good thing, but chip developers and some miners find themselves in the opposite camp.

One of the extremely talented core developers for Monero is South African local, Riccardo Spagni. Riccardo is no stranger in the greater crypto space and he is a popular Twilebrity. Follow Riccardo here @fluffypony

Where to go for Monero trading markets?

Traders are welcome to sign up here to trade Monero on iceCUBED-X. Further information on how to trade Monero or frequently asked questions can be found on our service desk portal help.ice3.com. Trading Monero on the iceCUBED exchange is quick, easy and secure.

What about the upcoming MoneroV fork?

We will be keeping a close eye on developments in relation to the proposed MoneroV hard fork. XMV could potentially have support in the future on iceCUBED-X. To receive XMV after the hard fork, withdraw your XRP balance to your own wallet, and which you control the private keys for.

Disclaimer Notice:

This article is intended to educate and should in no way be seen as investment advice or an enticement to use the ice3x.com platform. Bitcoin is highly volatile with big profit opportunities but you should also remember that you could lose part or all of your investment whenever you take part in any high risk investment. Bitcoin trading is not a regulated industry in South Africa, which in itself carries additional risks. IF YOU ARE NOT AN ASTUTE BITCOIN TRADER, SEEK INDEPENDENT FINANCIAL ADVICE BEFORE MAKING ANY INVESTMENTS.